ROC stands for Registrar of Companies which is a government office under the Indian Ministry of corporate affairs that deals with the administration of the Companies Act, 2013. ROC has been appointed under rule & section 609 of the limited companies act covering the various indian States and Indian Union Territories are vested with the primary duty of registering a limited companies and LLPs floating in the respective states and the Union Territories and ensuring that such limited companies and LLPs comply with statutory requirements under the company act. The office of ROC of Indian State functions as registry records, related to the limited companies registered with them, which are available for inspection by members of the public on payment of the prescribed fee. Moreover, there are currently 22 Registrars of companies (ROC) operating from offices in all major states of India.
Besides, the central government exercises administrative control over ROC offices through the respective Regional Directors. It is important to comply with all compliances applicable to your limited company to avoid penalties and fines.
Mandatory compliances and penalty of ROC
Compliance to be done
When is this to be done?
Penalty for non-compliances
The company must issue the share certificate to its shareholders within two months of its incorporation or new allotment.
7 to 8 Mandatory Registers to be maintained and updated from time to time
Default in holding AGM:
Minutes Book Maintenance:
As a part of Annual e-Filing, Companies incorporated under the Companies Act, 1956 are required to e-file the following documents with the Registrar of Companies (ROC):
Balance-Sheet: Form 23AC to be filed by all Companies*
Profit & Loss Account: Form 23ACA to be filed by all Companies
Annual Return: Form 20B to be filed by Companies having share capital
Annual Return: Form 21A to be filed by companies without share capital
Compliance Certificate: Form 66 to be filed by Companies having paid up capital of Rs.10 lakh to Rs. 5 crores
Public companies must hold an AGM each year. There is no legal requirement for a private company to hold an AGM but the company's articles may require it to do so. A private company can pass resolutions of its shareholders either at a general meeting or by means of a written resolution.
An Extraordinary General Meeting (EGM) is any meeting other than the AGM in which business relating to company's management are transacted. It can be held on any day excluding national holiday, in business hours only. It can be held on any day including national holiday, and any time during a day.
Shorter Notice may be given to the shareholders of a Company for convening General Meeting be it Annual General Meeting (AGM) or Extraordinary General Meeting (EGM). Detailed provisions under the Companies Act 2013 are described below.
Short notice means at least 21 days clear notice to be served on to call a general meeting of shareholders of companies.
The Legal Bank provides you a Experts professional team for the ROC Compliances for companies in Jaipur. Contact now for free ROC Compliance Consultancy.